Whale Makes Big Bearish Coinbase Options Bets Ahead of Earnings Despite Recent Stock Rise
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A whale has taken a bearish options stance on Coinbase, with more puts than calls traded recently. The price target range appears to be $20 to $200.
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The largest trades were a $121K call sweep bearish, a $109K put sweep bearish, a $106K bullish call, an $88K bearish put, and an $83K bearish put.
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Coinbase price is up 1.75% to $83.51 amid high volume of 7M. RSI indicates it may be overbought. Earnings in 8 days.
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Mizuho downgraded to Underperform, $27 target. Barclays maintained Underweight, $68 target.
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Options have higher profit potential but more risk than stocks. Whales manage risk through education, scaling, diversification, and market awareness.